BOSTON, June 1 /PRNewswire-FirstCall/ -- Three John Hancock closed-end preferred income funds declared their monthly distributions today as follows: Declaration Date: June 1, 2009 Ex Date: June 9, 2009 Record Date: June 11, 2009 Payment Date: June 30, 2009 Annualized Rate Current Change Market Price Distribution From as of May 29, Rate at Previous Ticker Fund Name Amount 2009 Market Month HPI Preferred Income Fund $0.1240 $14.26 10.43% - HPF Preferred Income Fund II $0.1240 $14.17 10.50% - HPS Preferred Income Fund III $0.1122 $12.07 11.15% - A portion of the Fund's current distribution may include sources other than net investment income, including a return of capital. The ultimate composition of the distribution may vary because it may be materially impacted by future realized capital gains or losses, and income from holdings. As required under the Investment Company Act of 1940, the Fund will provide a notice to shareholders at the time of payment of a distribution that may not consist solely of net income. Such notification will also be posted to the Fund's website at http://www.jhfunds.com/ where it will be viewable under the "Funds & Performance" tab, by clicking on "Closed-End Funds" and then "19(a) Distribution Notices." The notice is for informational purposes only and should not be used to prepare tax returns as the estimates indicated in the notice may differ from the ultimate federal income tax characterization of distributions reported to shareholders on Form 1099 DIV at the end of the calendar year. As noted, distributions may include return of capital. Investors should understand that return of capital is not a distribution from income or gains from the Fund. About John Hancock Funds The Boston-based mutual fund business unit of John Hancock Financial, John Hancock Funds manages more than $35.8 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at March 31, 2009. About John Hancock Financial and Manulife Financial Corporation John Hancock Financial is a unit of Manulife Financial Corporation (the Company), a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$405 billion (US$322 billion) at March 31, 2009. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife Financial can be found on the Internet at http://www.manulife.com/. The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, fixed and variable annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at http://www.johnhancock.com/. DATASOURCE: John Hancock Funds CONTACT: Media, Jay Aronowitz, +1-617-663-2702, or Investor Contact, +1-800-843-0090, both of John Hancock Funds Web Site: http://www.jhfunds.com/

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